Cinedigm Acquires ComicBlitz

Cinedigm said it has reached an agreement to acquire ComicBlitz, a digital comic book service that provides subscribers access to about 10,000 titles from some 30 publishers.

The company said it plans to distribute this content globally via mobile devices, streaming services and other media companies. Cinedigm also plans to integrate ComicBlitz into its own over-the-top services, including its fandom lifestyle network CONtv.

Cinedigm expects that the acquisition will close before the end of the year. Terms of the deal were not disclosed.

ComicBlitz bills itself as the Netflix of comics, a service that provides all-you-can-eat access for a monthly subscription fee. Launched in 2015, the service is available in more than 133 countries, and offers a range of popular titles, such as Transformers, Star Trek, Judge Dredd, Bloodshot, Bob’s Burgers, Army Of Darkness, Vampirella, Green Hornet, KISS, The Shadow, The Spirit, and 30 Days Of Night.

Cinedigm said the deal is expected to generate more than $5 million in incremental annual digital revenues within 18-24 months of closing, if it’s able to strike new licensing agreements and distribute the content on new platforms.

“This acquisition will provide additional content rocket fuel to further accelerate our digital revenue growth,” said Cinedigm Chairman and CEO Chris McGurk said in a statement.

ComicBlitz CEO Jordan Plosky will join Cinedigm team to further accelerate our expansion.

“Cinedigm gives ComicBlitz unprecedented support and an incredible opportunity to reach a large and enthusiastic audience, which is invaluable and extremely rare for a digital comic book company to receive,” Plosky said in a statement. “I truly believe this is a milestone moment not only for comic readers, but for the comics industry as a whole.”

In addition to CONtv, Cinedigm currently operates the factual network Docurama, gaming lifestyle network Wham Network, family-focused Dove Channel, kids-focused DoveKids, combat-sports network CombatGO, and the forthcoming networks Hallypop and Bambu.’

Via Deadline

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s